Morgan Stanley's Investment Banking Fees Surge Over 50% as Wall Street Deals Make a Comeback

Benzinga 2024-07-18

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Morgan Stanley's investment banking fees jumped more than 50% from a year ago, as dealmaking revived on Wall Street. Morgan Stanley's CEO said, "A number of folks have been calling for this" Wall Street dealmaking rebound for some time. Overall profits at Morgan Stanley increased due to higher investment banking and trading revenues. Investment banking revenues increased significantly at JPMorgan Chase, Wells Fargo, Goldman Sachs, and Bank of America. Morgan Stanley's stock price rose slightly after the earnings report.

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